Nikola

Fannie and Freddie Did Not Cause This Crisis

Um... securitization didn't fail to distribute risk across the financial system. It was all too successful in distributing it. Globally. And that's why we're in the *it that we are in. Had it failed, it'd be a few bad apples that went bust (perhaps a few big apples, but a few nevertheless), and we'd move on. Instead we have .... banks in Vietnam writing-off billions of dollars because Joe Redneck can't make his four hundred dollar mortgage payment.

There ought to be a law against this sort of thing. Spreading the risk.

Fannie/Freddie Bailout 'Disastrous Fiasco'

I agree with Ax.

It's obvious this was necessary. Mistakes were made in the past for letting it come to this, now this is the best course of action.

And I agree that it's quite outrages that people are not complaining about the cost of the Iraq war, but are complaining about the cost to stabilize the financial markets, which directly translates to the price of everything around you, your house, your groceries, and the rate on your credit card.

So get over it.

Besides, the tax payer is not innocent in all of this, if you really want to argue. If it was, it wouldn't have taken on mortgages it could not afford. Oh yeah, the bank was willing to give it. But a responsible tax payer wouldn't take one, because he knows he can't afford it. He took it anyway. Well.... now there's a bill to pay. Welcome to the real world. Next time think twice.

The Fannie/Freddie Nationalization: Conservatives Acting Like Socialists

And with McCain / Palin we will get National Socialism.